Analysts Set The Cigna Group (NYSE:CI) Target Price at $395.93

Shares of The Cigna Group (NYSE:CI) have earned an average rating of “Buy” from the fifteen ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $395.93.

A number of research analysts have recently weighed in on CI shares. Barclays lifted their price objective on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Truist Financial reduced their price objective on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada lowered their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd.

The Cigna Group Stock Down 0.2 %

Shares of CI stock opened at $284.49 on Monday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The stock has a market cap of $79.13 billion, a P/E ratio of 26.84, a P/E/G ratio of 0.88 and a beta of 0.54. The company has a 50 day simple moving average of $303.49 and a two-hundred day simple moving average of $327.70.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The company had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The Cigna Group’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period last year, the firm earned $6.77 EPS. On average, research analysts expect that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.97%. The Cigna Group’s dividend payout ratio (DPR) is 52.83%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CI. FMR LLC increased its holdings in shares of The Cigna Group by 2.0% in the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after buying an additional 279,880 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in The Cigna Group by 1.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock worth $3,829,880,000 after acquiring an additional 130,048 shares in the last quarter. Geode Capital Management LLC increased its stake in The Cigna Group by 0.4% during the third quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock worth $2,021,563,000 after acquiring an additional 22,408 shares during the last quarter. Parnassus Investments LLC raised its position in The Cigna Group by 2.1% during the third quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock valued at $1,012,340,000 after purchasing an additional 59,011 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of The Cigna Group by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock valued at $869,078,000 after purchasing an additional 150,765 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Company Profile

The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers.